Shares of Ultrapar Participacoes SA (NYSE:UGP) rose 3.6% during trading on Thursday . The stock traded as high as $22.09 and last traded at $22.06, with a volume of 246,169 shares trading hands. The stock had previously closed at $21.29.

Separately, Zacks Investment Research raised shares of Ultrapar Participacoes SA from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Wednesday, April 27th.

The stock’s 50-day moving average is $20.45 and its 200 day moving average is $18.18. The stock has a market capitalization of $11.88 billion and a P/E ratio of 26.80.

Ultrapar Participacoes SA (NYSE:UGP) last posted its quarterly earnings results on Thursday, May 12th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.01. On average, equities research analysts expect that Ultrapar Participacoes SA will post $0.84 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in Ultrapar Participacoes SA stock. Oxford Asset Management purchased a new stake in Ultrapar Participacoes SA (NYSE:UGP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 108,178 shares of the company’s stock, valued at approximately $1,650,000.

Ultrapar Participacoes SA is a Brazil-based holding company that operates in four segments: fuel distribution through Ipiranga; chemicals through Oxiteno; Liquefied Petroleum Gas (LPG) distribution through Ultragaz; and logistics for liquid bulk through Ultracargo. Ipiranga is a fuel distributor in Brazil, with a network of service stations, providing diesel, gasoline, ethanol, natural gas for vehicles, fuel oil and kerosene, besides lubricants.